The holiday season is a time of joy, togetherness and gift-giving. But what if this year's budget is tighter than Santa's belt? Don't worry, a no gift Christmas doesn't mean a joyless one. Loqbox has wrapped up heartwarming Christmas gift ideas when you have no money, or even just if you need to cut spending to focus on your financial goals.

How to have a no gift Christmas

Wait, no gifts at Christmas? Before you think we’re being Scrooge or the Grinch, having no Christmas gifts this year doesn’t have to mean no generosity. It’s still a time to treat your loved-ones, after all. But you can also be generous to yourself and your financial wellbeing. If you’re feeling anxious about affording Christmas, there are lots of great things you can do. 

There can be lots of pressure at Christmas to match up to unrealistic standards, and for kids to have a magical and memorable time. But let’s not forget, magic doesn’t have to come with a price tag. Often, it’s the genuine thoughtfulness that we invest that makes the season bright. Read on for Loqbox’s guide to having no money for Christmas, or even a no present Christmas.

Practical budgeting for the festive season

If you’re worried about how you’re going to pay for the festive season, make a Christmas list and check it twice. Make a list of all the people who you would like to give presents to this year. Then, note down your budget. Do you have enough to spread across everybody, or are you going to have to make some sacrifices on who you buy for or how much you spend?

This is where you might need to be honest about what you can afford and make some difficult decisions. Try to be realistic, and ask yourself the following questions: 

• Do you need to buy gifts for absolutely everybody? 

• Do you have any friends or family who are also watching their spending, who might benefit from a mutual no gift Christmas? 

• Are there far-removed relations who could come off your list?

If you’re a parent or caregiver, it can feel like there’s a lot of pressure when it comes to buying gifts for children, especially if they’ve seen adverts for the latest toys. Some people choose to prioritise buying presents for children over and above those for adults, who are more likely to understand if you need to tighten the purse strings. But you can make your budget go further with creative and imaginative present ideas (more on that below).

Christmas present ideas on a budget

There are tons of reasons why you might need to do Christmas on a budget. If you’re feeling the financial pressure at the moment, you’re not alone. But making your money stretch further doesn't have to stretch your imagination too far. Here are some of Loqbox’s top tips for Christmas presents with nearly no money.

Secret Santa

Secret Santa is a popular gift-giving game that's played in the festive season with colleagues, family and friends. Not only is it fun, but you can set an affordable budget and you only have to buy one present for the whole group, rather than one per person. This can be a great way to save some cash and keep your Christmas budget on track.

Charity shop challenge

If you’re trying to keep your budget tight over Christmas, and you have like-minded friends and family, why not turn Christmas gift buying into a challenge? Set a rule that everybody has to buy gifts from charity shops on a set budget. Gifts can be something that has meaning or is funny or kitsch. As well as spreading Christmas cheer at home, you’ll also be helping the charities.

Crafty Christmas ideas

Another option, if you want to save money, is to buy raw ingredients or elements rather than finished items. A lot of what makes up the price of Christmas presents is the labour or skills to put them together. If you’ve got an arty side, or you’re a whizz in the kitchen, why not keep costs down by making the gifts yourself?

Some easy homemade presents are things like: 

• Recipe kits 
• Homemade biscuits 
• Self-care hampers
• Tea light holders 

While this could be thought of as a free option for gift giving, you shouldn’t underestimate the cost of getting the ingredients or elements required to build, craft, or cook your presents. But you have a good chance of getting your overall budget in better shape if you go homemade for Christmas.

Christmas gift ideas with no money

Okay, what if keeping your budget under control isn’t going to cut it this Christmas? What if you have absolutely nothing to spend this year? Does that mean you have to hide under a yule log until January the 1st? The good news is, no, you can still get involved with the festivities even if you have no money for Christmas presents at all.

Make upcycled gifts

While making Christmas gifts can come at a cost, if you need to buy ingredients or art materials for example, there are still some homemade presents that you can put together for absolutely no money at all. You can make kids toys from upcycled cardboard and plastics, write a cookbook of your best recipes, or pick a bouquet of wildflowers.

Give personal coupons and tokens

So, you may not have any money to give your loved ones things. But that doesn’t mean you can’t bring them value in the form of your time, expertise or services. Why not make up some coupons or gift cards? You could offer to clean somebody’s house, teach them a skill, meet for a coffee in the New Year, or just take the time to visit them.

The gift of your time can mean an awful lot to people. Parents who don’t get to spend a lot of time with their older children or grandchildren will cherish the effort made to see them. Friends or family might love a yoga session, a musical instrument lesson, or even a free lift somewhere. These gifts make you really think about the people you love.

Offer to cook

We all know how stressful cooking Christmas dinner can be. If you’re not able to bring a sack of gifts on the big day, why not offer to cook the turkey? Of course, you may not be able to afford to buy the ingredients for a whole meal, but you could offer to bring a dish to help, or be the chef in somebody else’s kitchen so they can relax.

Look for freebies

With a keen eye online, it’s possible to find lots of freebies. You’ll be amazed at the things that people are willing to give away. Scour the internet for sites where people post free to collect items and try and find some great gift ideas there. Often people are willing to part with amazing things for free, just so they don’t have to move it themselves.

Avoid Christmas debt

Finding imaginative budget solutions at Christmas is far better than building up debt to cover it. Before you know it, Christmas will be over. But any debts that you’ve accrued could linger long into the new year. 
Find out how Christmas debt could affect your credit score.

And finally, don’t compare or feel ashamed

Whether you’re saving, paying off debts, or just having a difficult time with money, remember that Christmas is about being with loved ones, reaching out for help, and giving what you can. Try not to doom-scroll social media comparing your Christmas to others’. Try not to have unrealistic expectations. And above all, don’t feel ashamed about being creative.

Sometimes, the presents and gestures people remember the most are the ones that really mean something to them. When you take money out of the equation, you’re forced to think more carefully about the person you’re giving to. Money can even make our present-buying a little lazy. Don’t forget, it’s the thought that counts!

If you’re feeling short on money this year, it might be a sign that you would benefit from putting  a Christmas savings plan in place for the year ahead. Loqbox is the easy way to build a savings habit you can stick too while improving your credit score. Our members save £540 a year on average. You can set up your first savings payment to go out in a month, so why not get a head start today? 

Improvements to your credit score are not guaranteed. 

Above all, have a merry, budget-friendly Christmas and give yourself a financially stable New Year!